{"id":2003219,"date":"2023-08-17T00:04:01","date_gmt":"2023-08-17T04:04:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-chinas-major-state-banks-sell-dollars-for-yuan-in-london-ny-hours-sources\/"},"modified":"2023-08-17T00:06:24","modified_gmt":"2023-08-17T04:06:24","slug":"exclusive-chinas-major-state-banks-sell-dollars-for-yuan-in-london-ny-hours-sources","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-chinas-major-state-banks-sell-dollars-for-yuan-in-london-ny-hours-sources\/","title":{"rendered":"China&#8217;s top state banks trade dollars for yuan in London and New York during specific hours, according to sources."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">38<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fexclusive-chinas-major-state-banks-sell-dollars-for-yuan-in-london-ny-hours-sources%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2003219&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><strong>China&#8217;s State-Owned\u2064 Banks Take\u200b Action to Stabilize Yuan<\/strong><\/p>\n<blockquote>\n<p>China&#8217;s \u200cmajor \u2063state-owned \u2064banks were\u2062 seen\u200b busy selling \u200dU.S. dollars to buy yuan \u2064in both \u2064onshore and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-chinas-major-state-banks-sell-dollars-for-yuan-in-london-ny-hours-sources\/\" title=\"China's top <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ukrainian-ambassador-to-meet-with-senators-as-congress-mulls-6-4-billion-aid-package\/\" title=\"Ukrainian Ambassador To Meet With Senators As Congress Mulls .4 Billion Aid Package\">state banks<\/a> trade dollars for yuan in London and New York during specific hours, according to sources.&#8221;>offshore spot foreign exchange markets<\/a> this week, people with direct knowledge of the matter said, in an \u200cattempt to\u2064 arrest the yuan&#8217;s rapid losses.<\/p>\n<\/blockquote>\n<p>State banks usually act \u2062on behalf of \u2064China&#8217;s central\u200c bank in the country&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/saudis-mull-ditching-us-dollar-for-chinas-yuan-in-oil-sales\/\" title=\"Saudis Mull Ditching US Dollar for China\u2019s Yuan in Oil Sales\">foreign exchange market<\/a>, but\u200b they could also trade on\u200d their own behalf or execute their clients&#8217; orders.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Offshore branches of the state banks were seen selling dollars during London\u2062 and New York trading hours this week, two sources\u2064 with direct knowledge of the matter said on Thursday. <\/p>\n<p>Such dollar\u2064 selling\u2062 could limit\u200d falls in \u2063the offshore yuan and prevent it from diverging too \u200cfar from its onshore counterpart.<\/p>\n<p>Meanwhile, \u200btwo separate sources also said state \u2062banks offered dollars in\u2063 onshore foreign exchange markets.<\/p>\n<p>Dollar selling was mainly to\u2063 &#8220;control the \u200dpace\u2064 of yuan depreciation,&#8221; \u2064one of the sources said.<\/p>\n<p>The\u2064 onshore yuan \u200btraded at \u20647.3096 per \u2063dollar as of 0205 GMT, while the offshore yuan last fetched 7.3356.<\/p>\n<\/p>\n<p>  (Reporting by Shanghai \u200dNewsroom;\u2064 Editing \u2063by Jacqueline Wong)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/exclusive-chinas-major-state-banks\/attachment\/file-photo-illustration-shows-chinese-yuan-and-u-s-dollar-banknotes\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Latest News<\/h2>\n<p>\u201cDaddy\u201d Biden and John Podesta tout the Inflation Reduction Act while Glenn Beck gets cancelled.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Upcoming Event<\/h2>\n<p>President Biden is scheduled to visit Maui on Monday. This comes as the\u2062 death toll has \u200ctragically risen to at least\u2063 106.Hawaii State Representative,<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Political Commentary<\/h2>\n<p>Following the fourth indictment \u200dof 45th President\u2064 Donald Trump, Article III founder and president Mike Davis\u200c urges House Republicans\u200b to use subpoena power to fight \u200cback.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Public Opinion<\/h2>\n<p>A new Associated Press poll shows 63% of Republicans say they want \u2062Donald Trump to run again, \u200bwhich is jump form 55% who said the same thing\u2062 back in \u2062April.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Financial News<\/h2>\n<p><strong>Indonesia and Singapore Trial Cross-Border\u200d QR \u200dCode Payments<\/strong><\/p>\n<p>JAKARTA \u200d(Reuters) &#8211; Indonesia&#8217;s central bank said \u2063on Thursday it \u2063had started a trial of cross-border QR code payments with its Singaporean&#8230;<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h2>Technology Update<\/h2>\n<p><strong>Synopsys Names\u200d Sassine Ghazi as\u200d Chip Design Software Company&#8217;s\u2063 New Executive<\/strong><\/p>\n<p>By Jaspreet Singh and Max\u200c A. Cherney (Reuters) \u200d- Chip design software company \u200bSynopsys on\u200d Wednesday \u200dnamed 25-year-veteran Sassine Ghazi as its&#8230;<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>an effort to curb the yuan&#8217;s decline. This week, China&#8217;s state-owned banks were observed actively exchanging U.S. dollars for yuan in both onshore and offshore foreign exchange markets, according to insiders. Typically, these banks act on behalf of the central bank to stabilize the currency&#8217;s value.<\/p>\n","protected":false},"author":66,"featured_media":2003220,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2003219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2003219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2003219"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2003219\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2003220"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2003219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2003219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2003219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}